Turkey and Iraq extend oil pipeline deal
Turkey and Iraq have signed a one-year agreement to ensure the effective use of the oil pipeline between the two countries, which transports Iraqi oil to the Turkish port of Ceyhan. The agreement aims to enhance ongoing cooperation and maximize the utilization of the oil transport infrastructure, with a daily capacity of 750,000 barrels. This is part of Turkey's efforts to increase energy supplies and economic cooperation with Iraq. The agreement comes within the framework of the two countries' initiatives to expand collaboration in energy and trade, including the "Development Road" project, with the goal of doubling oil flows and increasing bilateral trade to $30 billion in the medium term.
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